By Amaka Ifeakandu Lagos
Lasaco Assurance recorded profi t after tax of N944.461 million for the fi nancial year ended December 31, 2017. Th e result represents an increase of 233 per cent compared with N283.320 million reported in the corresponding period of 2015.
Th e Company result submitted to Nigerian Stock Exchange also showed that profi t before tax grew by 183 per cent to N1.142 billion. An analysis of the company result indicated that the gross premium written rode by 18 per cent to N6.041 billion from N5.102 billion achieved in the preceding year while fi nancial assets inched up by 109 per cent to N 4.935 billion against N 2.365 billion recorded in 2015.
T he company total assets which stood at N16.133 billion in the comparative period of 2016 increased by 20 per cent to N19.298 billion while shareholders funds went up by 19 per cent from N6.578 billion in the previous year to N7.851 billion within the period under review.
Th e net premium earned declined by 43 per cent to N1.400 billion from N2.464 reported the corresponding period. Th e investment income down by 33 per cent to N441.141 million from N661.526 million recorded in 2015.. However the company paid gross claims of N1.651 billion against N1.122 billion paid at the end of 2015 fi nancial year. Th e board proposed dividend payment of N0.03 kobo per share held by investors
